US AD duty on pipes to hit Panzhihua New Steel badly

19/11/2009 12:00 - 615 Views

China Metallurgical News reported that US Department of Commerce has made a preliminary decision on imposing as mush as 99.14 percentage antidumping duties on oil pipes imported from China days ago, if possible, nearly 90 domestic steelmakers, like Tianjin Steel Pipe, Baosteel and Angang etc will suffer great impacts from this antidumping case.

As the largest steel enterprise in Sichuan, Panzhihua Iron and Steel Co Ltd also suffered export influence from US antidumping case this time. While, Panzhihua New Steel & Vanadium Co Ltd has exported about 40,000 tons oil pipes and pipeline steel to America in 2008, so if US plans to levy the above antidumping tariffs on China in its final decision, the company may suspend all the oil pipe export business in US.

Someone in Panzhihua Steel &Vanadium Co disclosed that, on one hand, the company may consider enlarging sales in other overseas markets like Mid-Asia and Africa etc and on the other hand it hopes to digest some parts of products by domestic market.

from China Metallurgical News

Monday, 16 Nov 2009

Source: steelguru.com